Deficit: meaning, definitions and examples

Commonly used in financial and economic contexts to indicate a shortfall between income and expenses or the difference between actual and required amounts.

• The company is struggling to reduce its budget deficit.
• The trade deficit has been a major concern for the country's economy.

Commonly used in both financial and general contexts to describe a situation where there is not enough of something to meet a requirement or expectation. It often implies a more manageable or temporary situation.

• The charity is facing a shortfall in donations this year.
• There is a shortfall of 2,000 units in the supply chain.

Typically used in medical or scientific contexts to describe a lack of a necessary nutrient, component, or element. It can also be used in a general sense to talk about a missing quality or characteristic.

• Iron deficiency is a common cause of anemia.
• The report highlighted several deficiencies in the system.

Used to express a severe lack or scarcity of something, often implying a more serious or dire situation. This word carries a more dramatic connotation than its synonyms.

• There was a dearth of medical supplies during the crisis.
• The dearth of skilled workers is affecting the industry.

Use 'deficit' when referring to a shortfall or shortcoming, typically in a financial context or when discussing quantities that do not meet a necessary level.

• The country is facing a budget deficit due to increased spending.
• There is a trade deficit between the two countries.

Use 'deficiency' to describe a lacking or shortage of a necessary element, often in the context of health or nutrition.

• Vitamin D deficiency is common in winter.
• The soil has a deficiency in essential minerals.

Use 'insufficiency' when highlighting the state of not being enough or adequate, often in a formal or technical context.

• The project was delayed because of insufficiency of funds.
• The patient is suffering from heart valve insufficiency.

Use 'scarcity' to talk about a limited supply or availability of resources, often implying difficulty in obtaining them.

• The scarcity of clean water is a major issue in some regions.
• During the war, there was a scarcity of food.